China Financial News

11.01 / 04:51

Digital litecoin Tether Platform Trade prevention Investigations China Dismantles $2.2 Billion Underground Banking Operation Leveraging Cryptocurrencies

Chinese authorities have recently dismantled a massive underground banking network valued at $2.2 billion, which was ingeniously using foreign digital currency platforms to circumvent the country’s stringent financial controls. This operation came to light following a detailed investigation by Chinese foreign exchange police.

11.01 / 04:51

CEO Tether students Universities Bitcoin Headlines Jerry Yu's Legal Struggles with Texas-Based BitRush Bitcoin Mining Operation

Jerry Yu, a 23-year-old student at New York University, has made headlines not for his academic pursuits but for his extravagant ventures in the world of cryptocurrency and Bitcoin mining. Living in a lavish $8 million Manhattan condominium previously owned by Jeffrey R. Immelt, former CEO of General Electric, Yu symbolizes what is often referred to as the «second-generation rich» in China.

11.01 / 04:41

UPS FIVE Citizens country travelers Destinations 2024 India ranks at THIS position in world's most powerful passport 2024 list

most powerful passport list for 2024, with citizens allowed to travel to 62 countries without a visa. The country shares its rank with Uzbekistan, while the neighboring nation Pakistan is positioned at 101 spot. Singapore and Japan have boasted the world’s most powerful travel documents for the last five years, granting their citizens access to more countries without a prior visa than anyone else.

11.01 / 04:41

COST Citi Booking Analysis reports travelers Maldives tour package prices DROP massively amid diplomatic row with India

Times of India report, tour operators have seen a noticeable decline in enquiries and a significant drop in prices for Maldives holiday packages despite multiple long weekends in January. The ToI report cited the example of Hyderabad, wherein a three-day package from Telangana's capital city to Maldives would cost between ₹55,000 and ₹70,000, now costs ₹45,000. Or even lower! The ToI report also said one-way flight tickets from here to Male are now going between ₹12,000 and ₹15,000, down from the previous average of ₹20,000.

11.01 / 04:41

security Election wellness Trade country voice rights Who is in charge of Europe?

eastward enlargement, once dormant policy areas, are now priorities—giving a new voice to Ukraine’s neighbours in central Europe. The rise of China, and the prospect of resurgent Trumpism in America, has caused the EU to rethink its economic arrangements—often along statist French lines. Climate imperatives have reinforced the value of taking action at collective level—an approach favoured by the EU’s quasi-federal institutions in Brussels.

11.01 / 04:23

Digital Progressive security Mobile Courts Number of Chinese CBDC-related Criminal Cases on the Rise

China’s rapid CBDC progress is causing a rise in digital yuan-related criminal cases, including suspected fraud, identity theft, and phishing.

11.01 / 04:19

markets Manufacturing Software economy Sustainability performer reports Tech growth woes pose risk to Dalal Street's sizzling rally

As investors await these results this week, a gauge of Indian tech shares has fallen for three straight weeks after rallying for the most part in 2023. The broader benchmark NSE Nifty 50 Index was also in the red so far this year after gaining 20% in 2023.

11.01 / 04:03

Apple BlackRock pandemic Trade reports Updates Apple faces challenge from Microsoft for world’s most valuable company title

Also Read: BlackRock to cut 3% of workforce, aims for larger employee strength by end of 2024 Microsoft has briefly taken the lead over Apple as the most valuable company a handful of times since 2018. Most recently in 2021, it overtook Apple when concerns about supply chain shortages related to the COVID-19 pandemic hit the iPhone maker's stock price. Analysts believe both tech stocks look relatively expensive in terms of price to their expected earnings.

11.01 / 03:27

Target security War country rights International UN Security Council adopts resolution demanding that Houthi rebels stop attacks on Red Sea shipping

Yemen's Houthi rebels on merchant and commercial vessels in the Red Sea area. The resolution, sponsored by the United States and Japan, says at least two dozen Houthi attacks are impeding global commerce «and undermine navigational rights and freedoms as well as regional peace and security.»

11.01 / 03:27

markets UPS Nikkei Bitcoin show track reports US CPI Asian stocks Asian stocks gain ahead of US CPI

inflation data that could influence the Federal Reserve's thinking on rate cuts, while the crypto world got a boost after exchange-traded funds (ETFs) to track bitcoin were approved in the United States. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.67% higher, on course to snap its seven-day losing streak. Japan's Nikkei breached 35,000 for the first time since February 1990 in a blistering start to the year, after rising 28% in 2023, its strongest yearly performance in a decade. The Nikkei was last up 1.9% at 35,085 on Thursday. On the other hand, China stocks loitered near 5-year lows as investor sentiment remained subdued.

11.01 / 02:33

wellness Trade show country Department Headlines International "Bharat now a strategic power... No longer can anyone show us red eye and get away with it": Rajnath Singh in London

Rajnath Singh on Wednesday said Beijing's perspective has altered drastically with the emergence of New Delhi as a 'strategic power'. «A columnist for the Global Times, which, in a way, is a mouthpiece for China, published an article with the headline 'What I see about Bharat narrative in India'. This article is a ringing affirmation of the changing Chinese perspective on India.

11.01 / 02:11

MET FIVE economy track country Destinations India's big advantage is that two-thirds of the economy is consumer-oriented, says Fairfax boss Prem Watsa

Prem Watsa, who helms the $84 billion Toronto-based investment giant Fairfax, reiterated his commitment to India, hailing the country's economic prospects. Fairfax's investment plans for India are on track despite macroeconomic headwinds, he said. «India has got one big advantage — two-thirds of the economy is consumer-oriented,» Fairfax Financial Holdings chairman Watsa told ET.

11.01 / 02:11

markets UPS Apple Trade reports Schools Microsoft challenges Apple as world's most valuable company

Apple's stock over worries about iPhone sales has left the Silicon Valley tech heavyweight in danger of being overtaken by Microsoft as the world's most valuable company. Fresh worries about smartphone demand have pushed Apple's shares down 4% so far in 2024 after rallying 48% last year. Microsoft is up about 2% year to date after surging 57% in 2023.

11.01 / 02:11

MET security Election country reports China's Xi Jinping says supports Maldives in protecting 'sovereignty': state media

Xi Jinping told Maldivian counterpart Mohamed Muizzu that he supported the strategically located archipelago in protecting its "sovereignty", state media reported, after the two countries signed a number of infrastructure and other agreements. Muizzu was elected in September as a proxy for a pro-China predecessor jailed on corruption charges, vowing to cultivate «strong ties» with Beijing.

11.01 / 01:05

UPS Provident Digital Citizens Progressive TikTok country Indian govt should continue to keep China apps in check: FCC Commissioner Brendan Carr

BabyBus, US Federal Communications Commission (FCC) commissioner Brendan Carr told ET. The chief of FCC – an independent agency of the US government that regulates communications by radio, television, wire, satellite, and cable across the nation – also said he found the work India is doing to provide access to the internet and telecommunication services to every citizen “very admirable”.

11.01 / 01:05

UPS BLOCK Digital country electronic Schools How Krafton brought PUBG successor Battlegrounds back from a ban

Krafton, publisher of one of India’s most popular esports titles, Battlegrounds Mobile India (BGMI), made a number of pledges to the government to get the ban on it lifted. This has emerged from ET’s conversations with senior government officials and Indian gaming industry executives.

10.01 / 19:27

Cooper economy pandemic Trade President country reports Muizzu's bid to revive FTA with China may lead to debt crisis in Maldives

Maldives President Mohammed Muizzu has proposed to revive the free trade agreement with Beijing, but the move could push Male towards a debt trap. China's current share of Maldives total debt is 37% and there are fears that FTA will further increase debt share, pushing Maldives into a Sri Lanka-type crisis, ET has learnt. The Covid pandemic, notwithstanding India's generous assistance to the island nation, has dented Maldivian economy, according to observers.

10.01 / 19:03

UPS Extreme BAY rock Courts rights Japan resumes work at new US military site on Okinawa despite local opposition

Japanese authorities have resumed landfill work at the planned new site of the U.S. military base on Okinawa despite protests by island residents that it tramples on their rights

10.01 / 19:03

markets COST Manufacturing Racing Tesla Chevrolet country For consumers shopping for an EV, new rules mean fewer models qualify for a tax credit

U.S. consumers looking to get a tax credit on an electric vehicle purchase will have fewer models to choose from under new rules that limit the countries where automakers can buy battery parts and minerals

10.01 / 18:33

COST Manufacturing Strategy Mobile country electronic prevention Reduce duty on mobile phone parts: ICEA

NEW DELHI : Mobile phone exports from India can more than triple to $39 billion over the next two years, from $11 billion in FY23, if the government reduces import tariffs on components, and eliminates them in some categories, the Indian Cellular and Electronics Association (ICEA) said on Wednesday. These shipments can even swell to $50 billion, if India rationalises import duties and undertakes reforms to ease doing business, the industry body said.

10.01 / 16:37

UPS Reuters Digital economy Browser Research Podcasts 2024 German tech sector expected to outperform ailing economy in 2024

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